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The HotCopper forums collectively missed one of the day’s top gainers, as far as the list of most popular companies according to users goes.
Beonic Ltd (ASX:BEO), an aviation-facing tech stock, has inked a deal to provide LIDAR-based passenger foot traffic data to seven airports in North Africa.
While the actual client was undisclosed, the company reported this sdeal is the largest of its kind ever executed in the region. Running for 2.5Y at a total value of just over A$15M (A$10M to Beonic,) investors have liked the news.
But the stock’s relative obscurity is an impediment, perhaps, to further uptake – or at least that from hardened traders perhaps more acclimatised to skepticism. While Beonic has a market cap of $25M and only around 71M shares on issue; total trade turnover reflected $42K at around 12.30pm AEST on Tuesday.
Still, the company is among the top gainers on Tuesday according to ADVFN data.
So why was the client undisclosed? That’s a good question, and clearly it isn’t one that anybody buying shares on Tuesday is too bothered by.
“Beonic confirms that [it] does not consider the identity of the customer to be information that a reasonable person would expect to have a material effect on the price or value of the Benoicʼs shares,” the company itself wrote.
While this is just speculation, Morocco has recently declared a massive airport upgrade spending program ahead of the 2030 World Cup; according to WorldData, the country has more than a dozen airports.
BEO last traded at 35.5cps.
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